Korea Investment Holdings' subsidiary Korea Investment Securities recorded a net profit of over 1 trillion won in the first half of this year. This is the first time a domestic securities company has surpassed a net profit of 1 trillion won in just six months.
Korea Investment Securities announced on the 6th that it recorded a consolidated net profit of 577 billion won for the second quarter (April to June) of this year. This is an increase of 68.6% compared to the same period last year, when the net profit was 342.2 billion won. Following a record in the first quarter, it set a new record for the second quarter.
Korea Investment Securities' sales increased by 39.2%, from 4.7597 trillion won in the second quarter of last year to 6.6247 trillion won in the second quarter of this year.
Korea Investment Securities recorded a net profit of 1.0252 trillion won in the first half of this year, a 4.2% increase compared to last year. It achieved the so-called '1 trillion club' in just six months. The equity also increased to 10.5216 trillion won as of the end of June this year.
Korea Investment Securities explained that balanced growth across various institutional sectors has led to significant performance improvement in revenue based on capital management.
Enhanced mobile trading system (MTS) has expanded revenue related to discretionary trading, and the asset management sector strengthened the supply of globally specialized products, resulting in an increase in personal financial product balances from 67.7 trillion won at the beginning of the year to 76.1 trillion won as of the end of June.
The corporations finance sector also achieved industry-leading results in traditional investment banking areas such as initial public offerings (IPOs), paid-in capital increases, and bond underwriting. Revenue related to project financing (PF) also showed an upward trend.
A representative from Korea Investment Securities said, 'Diverse institutional sectors are harmonizing to achieve substantial revenue improvement,' adding, 'We will continue to promote creative business innovation and establish a stable yet growth-oriented revenue structure at the level of global investment banks.'